District 38, the Lewis-Palmer district, spans the northern portion of El Paso County, from roughly Baptist Road to the South, up to County Line Road in the North.
With the Colorado Springs market heating up let’s look at the last 3 months of 2015 and the most recent 3 months.
For this comparison I will focus on the most typically sold properties, those from $200,000 to $600,000.
For the last 3 months of 2015:
140 properties sold
Median total square feet was 3,440
Median list price $381.500
Median sold price $377,729
Sales price to list price 99.05%
Median sales price per square foot $113
Cumulative days on market 59
Median year built 2000.
The oldest house sold was built in 1958.
For the most recent 3 months:
131 properties sold
Median total square feet was 3,605
Median list price $410,000
Median sold price $409,900
Sales price to list price 99.12%
Median sales price per square foot $117
Cumulative days on market 31
Median year built 2002.
The oldest house sold was built in 1919.
Median list prices and sale prices are a little higher.
Median sales price per square foot is up $4 per square foot from $113 to $117.
On a 3,500 square foot that is an increase of $14,000 just since last Fall.
Cumulative days on market is the most significant change. Down a median of 28 days from 59 days last Fall to just 31 days this Spring.
This is a popular area for people who want to live in the Springs but need to commute to Denver. There are also a number of people who live here and work at the Air Force Academy.
If you can afford a house in $400,00’s or more and want a little room between you and your neighbor, district 38 might just be for you.
Not all houses at the same price level are of the same value. Buyers need to be working with a veteran broker who can educate them on the differences and help them with a strategy to get the house they want.